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Dow Tumbles Over 100 Points; US Producer Prices Decline In May
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Dow Tumbles Over 100 Points; US Producer Prices Decline In May
Jun 13, 2024 7:12 AM

U.S. stocks traded mixed this morning, with the Dow Jones index falling by more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.36% to 38,574.00 while the NASDAQ rose 0.55% to 17,705.52. The S&P 500 also rose, gaining, 0.19% to 5,431.23.

Check This Out: Alphabet, Dropbox And 2 Other Stocks Insiders Are Selling

Leading and Lagging Sectors

Information technology shares jumped by 1.4% on Thursday.

In trading on Thursday, communication services shares fell by 0.9%.

Top Headline

U.S. producer prices fell by 0.2% month-over-month in May versus market estimates of a 0.1% gain and following a 0.5% increase in April.

Equities Trading UP

                       

BioRestorative Therapies, Inc ( BRTX ). shares shot up 60% to $2.1399 after the company announced that it engaged in advanced discussions for a ThermoStem license with a regenerative medicine firm.

Shares of E-Home Household Service Holdings Limited ( EJH ) got a boost, surging 42% to $0.8500.

Sharps Technology, Inc ( STSS ). shares were also up, gaining 40% to $0.4181 after the company announced that it signed a $30 million purchase order from Nephron Pharmaceuticals for prefillable copolymer syringes.

Equities Trading DOWN

Assure Holdings Corp ( IONM ). shares dropped 45% to $0.2862.

Shares of Nuburu, Inc ( BURU ). were down 36% to $0.0933 after the company announced that it will be implementing a 1-for-40 reverse stock split.

Cara Therapeutics, Inc ( CARA ). was down, falling 32% to $0.4631 after the company announced the outcome from the dose-finding Part A of the KOURAGE-1 study evaluating the efficacy and safety of oral difelikefalin for moderate-to-severe pruritus in adult patients with notalgia paresthetica. Also, Needham, Canaccord Genuity and HC Wainwright downgraded their respective ratings on the stock.

Also Check This Out: Wall Street’s Most Accurate Analysts Give Their Take On 3 Industrials Stocks With Over 3% Dividend Yields

Commodities

In commodity news, oil traded down 0.4% to $78.18 while gold traded down 0.7% at $2,338.80.

Silver traded down 2.7% to $29.445 on Thursday, while copper fell 0.5% to $4.5425.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.7%, Germany's DAX dipped 1% and France's CAC 40 tumbled 1.1%. Spain's IBEX 35 Index fell 0.6%, while London's FTSE 100 slipped 0.3%.

Industrial production in the Eurozone fell by 0.1% month-over-month in April following a revised 0.5% gain in the prior month. The annual inflation rate in Spain accelerated for the third month to 3.6% in May.

Germany’s wholesale prices declined by 0.7% year-over-year in May compared to a 1.8% fall in the prior month.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.40%, Hong Kong's Hang Seng Index gaining 0.97%, China's Shanghai Composite Index falling 0.28% and India's S&P BSE Sensex gaining 0.27%.

The Hong Kong Monetary Authority kept its base rate unchanged at 5.75% during its latest meeting.

Economics

U.S. initial jobless claims rose by 13,000 to 242,000 in the week ending June 8, compared to market estimates of 225,000.

U.S. producer prices fell by 0.2% month-over-month in May versus market estimates of a 0.1% gain and following a 0.5% increase in April.

Now Read This: Top 3 Tech And Telecom Stocks You’ll Regret Missing In Q2

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